interest value is the multiplier or the extra left over. so for example with 3% interest, you have to multiply by 1.03.
future value is probably how much it will cost in the future after however many years? based on the formula, the future value of £100 after 3 years on a 3% interest value (sometimes might say interest rate). we get:
100 x (1.03)^3 = 109.2727
so future value of £109.27 (to 2.d.p)
future value is probably how much it will cost in the future after however many years? based on the formula, the future value of £100 after 3 years on a 3% interest value (sometimes might say interest rate). we get:
100 x (1.03)^3 = 109.2727
so future value of £109.27 (to 2.d.p)
Original post by rlyneedtostudy
interest value is the multiplier or the extra left over. so for example with 3% interest, you have to multiply by 1.03.
future value is probably how much it will cost in the future after however many years? based on the formula, the future value of £100 after 3 years on a 3% interest value (sometimes might say interest rate). we get:
100 x (1.03)^3 = 109.2727
so future value of £109.27 (to 2.d.p)
future value is probably how much it will cost in the future after however many years? based on the formula, the future value of £100 after 3 years on a 3% interest value (sometimes might say interest rate). we get:
100 x (1.03)^3 = 109.2727
so future value of £109.27 (to 2.d.p)
It wants the interest value in £ though?
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